An E-corner system is an electronically controlled suspension system that integrates components like steering, braking, dampening, and levelling into a single electro-hydraulic module on each wheel to enhance vehicle performance. E-corner systems offer various advantages like improved vehicle dynamics, safety, ride control, and stability compared to conventional suspension systems. With the growing demand for enhanced driving experience, reduced energy consumption, and improved vehicle control, the adoption of e-corner systems is increasing across passenger and commercial vehicles.
The global E Corner System Market was valued at US$ 2.28 billion in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Opportunity:
The opportunity in digital transformation is expected to drive the growth of the e-corner system market. Automotive manufacturers are increasingly focusing on digitalisation and developing digital control technologies to offer autonomous and connected vehicle solutions. E-corner systems offer key enabling technologies for developing advanced driver assistance systems and autonomous vehicles. The digital control and integration of multiple components allow for precise vehicle motion control. E-corner systems also support over-the-air software upgrades for continuous service and feature enhancements. This provides an opportunity for automakers to develop customizable and personalised in-vehicle experiences. The innovation around digital technologies is expected to boost the demand for smart and upgraded suspension modules like e-corner systems for future mobility solutions.
Porter’s Analysis:
Threat of new entrants: Low barrier to entry considering small capital requirement however established players dominate the market utilizing economies of scale.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes however brand loyalty provides advantage to key players.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and differentiated products.
Threat of new substitutes: Threat of substitution is moderate as key players continue to innovate and provide value added products and services.
Competitive rivalry: Intense competition among key players to gain market share.
SWOT Analysis :
Strengths: Established distribution network, strong brand image and loyal customer base.
Weaknesses: High research and development cost, vulnerability to price wars.
Opportunities: Untapped growth opportunities in developing regions, scope for innovation in product offerings.
Threats: Trade barriers, stringent government regulations, economic slowdowns.
Key Takeaways:
The global E Corner System Market Size is expected to witness high growth. The global E Corner System Market is estimated to be valued at US$ 2.28 billion in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030.
Regional Analysis Asia Pacific dominates the market currently due to rapid industrialization and urbanization in countries like China and India. The region is expected to maintain its dominance during the forecast period owing to presence of major players and growing construction activities.
Key Players related content comprises Key players operating in the E Corner System market are Beijing Aero, Honeywell International Inc, UTC Aerospace Systems, General Electric, Rolls-Royce, Hindustan Aeronautics, CLM Airlines, Air Works, AAR Corporation, B/E
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